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RBL Bank Home Loan EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

0

Principal Amount

Interest

Total Payable

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What Is the RBL Bank Home Loan EMI Calculator?/

Are you considering taking a home loan to fulfil a long-awaited dream— owning your first flat, a home renovation project, or maybe even a secondary property? Before you dive headfirst into the world of home loans, it's crucial to understand the nitty-gritty of Equated Monthly Instalments(EMI).

Instead of paying a lump sum upfront, EMIs allow you to spread out your loan repayment over a set period. By breaking up payments, you can comfortably repay your loan in fixed monthly instalments, making it easier to plan your finances and stay on track.

Now, how do you determine the exact EMI amount for your loan? That's where the RBL Bank home loan EMI Calculator comes to the rescue. It's like having a financial companion by your side, ready to crunch the numbers and reveal your monthly repayment amount.

Thanks to the RBL Bank home loan EMI Calculator, evaluating your repayment capacity becomes effortless, enabling you to select a loan amount and tenure that perfectly aligns with your financial aspirations.

How Does the RBL Bank Home Loan EMI Calculator Work?

The RBL Bank home loan EMI Calculator operates on a simple and user-friendly interface. All you need to do is enter the loan amount, interest rate, and tenure, and the calculator swiftly computes the EMI for you. It employs a predefined formula to calculate the EMI, considering the loan amount, interest rate, and repayment tenure to arrive at an accurate monthly instalment.

What Is the RBL Bank Home Loan EMI Calculator Formula?

The RBL Bank home loan EMI Calculator formula is as follows:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Here,

EMI is the equated monthly instalment

P is the principal amount for the loan

R is the interest rate

N is the loan tenure

If you’re having trouble with this formula, there's a simpler way—no need to go through manual calculations. Thanks to the Angel One online calculator, you can effortlessly crunch numbers with minimal effort.

How To Use the Online RBL Bank Home Loan EMI Calculator?

Using the RBL Bank home loan EMI Calculator online is quick and hassle-free. Head to the Angel One website and follow this step-by-step guide to help you navigate the process:

  1. Enter the loan amount you wish to borrow. 
  2. Use the slider to input the loan's interest rate RBL Bank offers.
  3. Input the duration of the loan in years.

The calculator will automatically update and display the EMI you need to pay.

Feel free to tweak the loan amount, interest rate, or tenure to compare various loan options and find the ideal EMI for your financial circumstances. Using the RBL Bank home loan EMI calculator online saves valuable time and effort as it swiftly generates results, empowering you to make informed loan choices.

Let’s try to understand the above steps with a simple example. Suppose you want a loan of Rs. 5,00,000. You’ll repay the loan in 12 years, and you’re getting an interest rate of 11% p.a. Here’s how you can determine the EMI and total amount to be paid using the online RBL Bank home loan EMI calculator:

  1. Type Rs. 5,00,000 in the loan field.
  2. Select the interest rate as 11 % p.a.
  3. Enter 12 years as the loan duration.

In this scenario, for the initial loan amount of Rs. 5,00,000, your monthly instalment to the bank would be Rs. 6,268. Over the loan tenure, the total amount repaid would sum up to Rs. 9,02,560. Feel free to experiment with different durations and interest rates to observe how they impact your EMI amount and the overall payable sum.

Benefits Of Using the RBL Bank Home Loan EMI Calculator

The RBL Bank home loan EMI calculator offers several benefits to borrowers:

  • Precision:The RBL Bank home loan EMI calculator guarantees accurate EMI calculations, leaving no room for uncertainty. You'll know the precise monthly instalment amount required for repayment.
  • Financial management:Empower yourself with choice. The RBL Bank home loan EMI calculator lets you compare various loan options by adjusting loan amounts, interest rates, and tenures. This lets you identify the loan that best aligns with your financial aspirations.
  • Time-saving:RBL Bank home loan EMI calculator swiftly generates results, saving you valuable time and effort. Say hello to instant answers without the hassle.
  • Free to use:The TMB Home Loan EMI Calculator Angel One provides is free. You can access it on the Angel One website without hidden fees.

Types Of Loans Offered By RBL Bank

RBL Bank offers Home Loans with minimal documentation and faster approvals, these loans cater to salaried individuals, self-employed individuals, and self-employed professionals who are Indian residents. Salaried individuals require a minimum net income of Rs. 120,000 per annum and specific age and work experience criteria, while self-employed individuals and professionals need to meet certain income and business continuity requirements. However, these details are subject to change.

FAQs

What is the RBL Bank Home Loan EMI calculator?

The RBL Bank home loan EMI calculator is an online tool that helps you determine the EMI amount for your loan with minimal effort.

How to use the RBL Bank Home Loan EMI calculator?

To use the RBL Bank home loan EMI calculator, input the loan amount, tenure, and interest rate. The calculator will instantly generate the monthly EMI amount, providing you with a clear understanding of your repayment obligations.

Is the RBL Bank Home Loan EMI calculator free to use?

Yes, the RBL Bank home loan EMI calculator is a completely free tool on the Angel One website so you can calculate your EMIs and plan their loan repayments.

How is the total interest of a loan calculated?

The total interest on a loan is calculated by subtracting the principal amount from the total amount repaid. It includes interest accrued over the loan tenure. home loan amounts vary from bank to bank. The figure also changes with time.

What is the minimum amount you can take a loan of?

The minimum loan amount varies based on RBL Bank's policies and loan products.

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